Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
I
118TH CONGRESS
1ST SESSION H. R. 4212
To amend the Internal Revenue Code of 1986 to increase the income cap
for and make permanent the mortgage insurance premium deduction.
IN THE HOUSE OF REPRESENTATIVES
JUNE 20, 2023
Mr. BUCHANAN (for himself and Mr. PANETTA) introduced the following bill;
which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to increase
the income cap for and make permanent the mortgage
insurance premium deduction.
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled,
2
SECTION 1. SHORT TITLE.
3
This Act may be cited as the ‘‘Middle Class Mortgage
4
Insurance Premium Act of 2023’’.
5
SEC. 2. INCREASING THE INCOME CAP FOR AND MAKING
6
PERMANENT THE MORTGAGE INSURANCE
7
PREMIUM DEDUCTION.
8
(a) IN GENERAL.—(1) Section 163(h)(3)(E) of the
9
Internal Revenue Code of 1986 is amended—
10
VerDate Sep 11 2014
23:25 Jul 26, 2023
Jkt 039200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H4212.IH
H4212
kjohnson on DSK79L0C42PROD with BILLS
2
•HR 4212 IH
(1) in clause (ii), by striking ‘‘$100,000
1
($50,000)’’ and inserting ‘‘$200,000 ($100,000)’’,
2
and
3
(2) by striking clause (iv).
4
(b) EFFECTIVE DATE.—The amendments made by
5
this Act shall apply to taxable years beginning after De-
6
cember 31, 2023.
7
Æ
VerDate Sep 11 2014
23:25 Jul 26, 2023
Jkt 039200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6301
E:\BILLS\H4212.IH
H4212
kjohnson on DSK79L0C42PROD with BILLS